WanaB - It means that someone, or a few people, are betting that this stock will go lower before it goes any higher – and they have put their money where there mouth is and have sold shares they have “borrowed” in hopes of replacing them later with ones they can buy at a lower price. That said, even though there was a high percentage increase in the number shares shorted, 7K shares/month is a very small number relative to the 120M+ shares outstanding. To put it in perspective the average daily volume is 137K/day. If you assume half those people are buying it means that there were more than 2M shares sold last month to people who expect the stock to go higher. It’s not exactly a fair comparison but the point is I wouldn’t read too much into this one yet. The time to worry is when a large percent (meaning 5 to 10) of the outstanding shares are being shorted. We’re nowhere near that.
The interesting part is that there is documented short percentage for cygx. There are rules on which stocks can and can’t be shorted based on size, price, and exchange, among other things. I was under the impression that cygx could not be shorted. Hmmm - Learn something everyday.
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